UK, Nigeria Strengthen Commercial Ties with Multi‑Million Pound Investments

President Bola Tinubu and United Kingdom (UK) Prime Minister

UK, Nigeria Strengthen Commercial Ties with Multi‑Million Pound Investments

The United Kingdom (UK) and Nigeria are set to deepen commercial and economic ties as Nigerian banks, fintechs, manufacturers, and creative sector companies announce multi‑million pound investments in both countries. These commitments coincide with President Bola Ahmed Tinubu’s historic State Visit to the UK, aimed at boosting bilateral trade, investment, and job creation.

In the financial sector, Zenith Bank Plc opened a new branch in Manchester, creating up to 30 direct jobs. The bank is also targeting a London Stock Exchange listing by 2027 to enhance its UK market presence and unlock long‑term funding for UK‑Africa trade growth. Fidelity Bank Plc plans to double its UK staff and capital base, while FCMB has chosen the UK as the first international destination for its digital cross-border payments platform.

Nigerian fintech investment in the UK is accelerating rapidly. LemFi plans to invest £100 million over the next five years, designating London as its global headquarters. Moniepoint aims to grow its London team to 100 employees in 2026, and Kuda Bank is expanding its UK headquarters as the base for global operations, with plans to double its footprint this year.

In manufacturing, Twining’s Ovaltine is launching a £24 million facility in Lagos, its first in Africa, which will generate over 100 direct jobs and boost exports across West Africa.

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The creative sector is also seeing major investment. EbonyLife, a leading Nigerian creative brand, is launching EbonyLife Place London, expected to create 40 jobs and showcase African storytelling in one of the world’s leading cultural hubs. In addition, the SCALE Creative Entrepreneur Award Programme, developed by the British Council and supported by the UK Department for Business and Trade, will help young Nigerian and UK creative entrepreneurs expand internationally and foster lasting economic ties.

Addressing an ETIP reception at Kensington Palace ahead of Tinubu’s visit, UK Business and Trade Secretary Peter Kyle said the growing commitments demonstrate how enterprise and innovation can transform economies. UK Deputy Prime Minister David Lammy added that the strategic partnership reduces barriers to trade, creates jobs, and strengthens cultural and commercial bonds between the two nations.

The UK‑Nigeria partnership is now seen as a key driver for sustainable growth, creating opportunities across financial services, fintech, manufacturing, and creative industries, while reinforcing the UK’s position as a global hub for African business and innovation.